Is it a good time to be able to negotiate hard on a used car price at a dealer in January?
As in, if I am ready to buy in December would it be worthwhile waiting until January?
Just thinking that the demand might drop off in January due to holidays and a dealer might be more willing to reduce prices to move stock.
Whaddya think?
Yep. Good and useful points - thanks!
January will probably be hotter weather.
Get the dealer out in the sun and take your time; make them sweat. They might accept your offer just to get back indoors.
Then hit you with the interior car detailing for easier cleaning.
Good advice above, look for a car closing in on 90 days in stock, ask which cars are 'old stockers'. Doesn't matter which month so much as when in the month, leave it 'til the last day or two and hope they need the number for a volume bonus, or more money to meet their target for a bonus on gross earnings. And make sure you get in the used car managers ear, the salesman might reckon you're wasting his/her time but believe me, at the end of the month the boss will want to hear every offer!
My understanding for used cars is timing makes very little difference. And given you’re not privy to dealer inner workings you’ll never really know anyway. I would suggest buy when ready on a used car.
New cars is a different story, particularly for end of month or end of financial year.
Agree. Buying the right car for you limits somewhat as to when to buy. Unless you are buying an ex fleet white Camry with ‘typical’ kms that are a dime a dozen, waiting for longer to get a deal might mean you miss out on the car you like. Sure, another will come along but it might take some one or be more expensive.
From where did you get your "understanding"? Mine comes from managing a new car franchise and numerous used car manager roles, as well as a stint in wholesale. I know forums give everyone a say and you're entitled to yours but you have no idea. Timing is everything, it doesn't mean you're gonna buy your dream car way under it's real value but there IS NO BETTER time to try than at the end of the month!
Thanks for sharing. Remind me not to buy a car from your dealership. Angry man much?
Thanks everyone for you advice!
From GOAUTO NEWS this week:
By NEIL DOWLING
USED car prices lifted for the second month in October, continuing a trend that sees wholesale prices up 10 per cent year-on-year, according to the latest data from Manheim. Manheim’s Used Vehicle Value Index wholesale prices for used cars – which has data dating back to 2006 – rose 0.8 per cent in October compared to the previous month, which maintained an upward trend on August prices. In September, prices jumped 2.5 per cent compared to August. Manheim said that wholesale prices were up 10 per cent in October compared to the same month in 2018, with the auction house stating the rise is directly related to the new-car sales environment which has seen a “substantial decline” in the same year-to-year period. “With a reduced supply of tradeins, good quality used vehicles are scarce which is resulting in increased competition amongst dealers looking to stock their yards,” said Manheim spokesman, Cox Automotive Australia and New Zealand director of marketing and communications Matt McAuley. “The fall in new-vehicle sales and their associated trade-ins also means auction volumes are generally lower which also enhances competition for secondhand vehicles.”
Used cars typically have stock holding timeframes, 60-90 days. That's what affects negotiating ability. If it's been in stock a while, they'll wanna get rid of it.
That said, it also depends on how it's priced to market. Don't get the cheapest on Carsales and expect a huge discount on top